UK investors are starting to turn to overseas property once again. As the stock market in Britain continues to deliver uncertain returns and interest rates remain at record low levels. Creating increased interest in islands such as Lanzarote, where tourism is buoyant and property prices are at their cheapest in years.

Currently the Lanzarote property market is recovering from the impact of the economic crisis. Having seen prices fall by up to 20% over the last couple of years. Creating opportunities for buyers with funds and in a position to make a purchase.

Lanzarote´s appeal for property investors and tourists is the same – sunshine. The island is located in the Canaries close to the coast of Africa and as a result basks in temperatures of 20 degrees Celsius plus even in winter. So as a result the owners of Lanzarote holiday villas and apartments can expect to enjoy rental income all year round too.

Even last year during the recession Lanzarote welcomed over 1.4 million visitors, many of them from the UK. Boosted by the ready availability of cheap Lanzarote flights from airports across Britain. With the main resorts of Puerto del Carmen and Playa Blanca the two most popualr hot spots.

Villas in Playa Blanca are very popular with this market and currently prices have fallen back to 2003 levels here. Which buys a two bedroom property with private pool that is just ideal for the holiday rental market. Prices rise a little as you head along the coast to Puerto del Carmen. Reflecting the fact that there is less stock here to choose from and the properties themselves are usually larger and occupy a much bigger footprint.

Some intrepid investors have goon even further and invested in properties in the countryside. Which is a great way to take advantage for the growing demand for rural holidays on the island. Bolstered by the increasing number of tourists keen to connect with the real Lanzarote.

Buying a property on the island is easy as you don’t have to be a resident and much of the work is handled on your behalf by your selected estate agent. There are loads of English speaking agents here, reflecting the demand for property from UK based investors. And most are very reputable and reliable. Offering an efficient service. Agents can also help buyers find a mortgage and a local lawyer and will accompany them right through the procedure.